[116 Pages Report] The market size of magnetic materials is estimated to have been USD 55.52 billion in 2014, and is projected to reach USD 96.00 billion by 2020, at a CAGR of 9.6% between 2015 and 2020. Semi-hard magnet is projected to play a key role in fueling the growth of the overall magnetic materials market owing to its unique properties, making it suitable for use in various automotive, electronics, industrial, power generation, and other applications. Semi-hard is the most extensively used magnetic materials owing to global demand for technological systems & devices that are used to develop innovative products. In this report, 2014 is considered as the base year and forecast period is 20152020.

Market Dynamics

Drivers

Growing Automotive Industry

Growth in End-Use Industries

Development and modernization of infrastructures

Restraints

Volatile raw material prices

Requirement of huge investment in R&D

Opportunities

Development pf new technologies

Development and modernization of infrastructures

The growing trend of modernization and electrification to improve efficiencies and reduce the cost of production enhances the use of permanent magnets in various industries. The building technologies offer advanced solutions that ensure the highest levels of sustainability, energy efficiency, and safety. These not only offer industry-specific solutions for data centers, hospitals, life science companies, airports, hotels, and utility companies, but also offer solutions for commercial buildings of international companies as well as cities and their infrastructures. Permanent magnets are increasingly used in the motors of train doors and lift doors. NdFeB magnets are also used to dewax oil pipelines in China.

The objectives of this study are:

To define and segment the magnetic materials market

To identify the market dynamics for magnetic materials

To analyze and forecast the types and applications of magnetic materials in terms of volume and value

To analyze and forecast the market size, by value and volume, for different segments based on the key countries of the regions covered in the study

To analyze and identify drivers, restraints, and opportunities in the market for stakeholders and draw a competitive landscape for the market leaders

This technical, market-oriented, and commercial research study of the global magnetic material market involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, and Factiva), to identify and collect information. The primary sources mainly include several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industrys supply chain. After arriving at the overall market size, the total market has been split into several segments. The figure below illustrates the breakdown of the primary interviews based on company type, designation, and region conducted during the research study:

The major factor restraining growth of the magnetic materials market is volatile raw materials prices in North America and Western Europe. However, Asian countries such as, China and Japan have increased the production and utilization of magnetic materials.

Some of the important magnetic materials companies are Hitachi Metals Ltd. (Japan), Daido Steel Co. Ltd. (Japan), Molycorp Magnequench (Canada), Shin-Etsu Chemical Co. Ltd. (Japan), and TDK Corp. (Japan). The players in this market need to compete with each other with respect to prices and offering wide product range to meet the market requirements.

Major Market Developments

In May 2015, Electron Energy Corporation expanded its production capacity for Samarium Cobalt (SmCo) by adding new furnace to its Landisville manufacturing unit.

In March 2015, Hitachi Metals Ltd. introduced ML95S and ML90s, high frequency characteristic soft ferrite core materials. These materials are to be used in the energy-savings pertaining to the components for automobile, smartphones, and other network equipment.

In June 2015, Hitachi Metals, Ltd. and Zhong Ke San Huan entered into a joint venture to manufacture and sell neodymium-iron-boron magnets

The target audiences for the magnetic materials market report are as follows:

Magnetic material manufacturers

Magnetic material suppliers

Magnetic material formulators

Raw material suppliers

Service providers

End users, such as automobile, electronic, power generation, and other manufacturing companies

Scope of the Report:

Magnetic Materials Market, by Type:

Semi-hard magnet

Soft magnet

Permanent/hard magnet type

Magnetic Materials Market, by Application:

Automotive

Electronics

Industrial

Power Generation

Others

Magnetic Materials Market, by Region:

Asia-Pacific

North America

Europe

Rest of the World

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options (not limited to) are available for the report:

Regional Analysis

Further breakdown of a region with respect to a particular country, additional application, and/or type

Country Information

Additional country information (Up to three)

Company Information

The global magnetic materials market is projected to reach USD 96.00 billion by 2020, registering a CAGR of 9.6% between 2015 and 2020. The growth of the market is primarily driven by the automotive industry. Automobile uses magnetic materials in various parts, such as motors, sensors, actuators, and switches. Increasing concerns to enhance the fuel economy of vehicles force manufacturers to extensively reduce vehicle weight and increase combustion efficiency.

The materials that respond to the applied magnetic field either in the form of attraction or repulsion by generating magnetization or demagnetization property are known as magnetic materials. There are three categories of magnetic materials, namely, soft, semi-hard, and hard/permanent. These are used in various applications such as automotive, electronics, power generation, industrial, and others.

The automotive application dominated the magnetic materials market in 2014; however, the application is projected to register the highest growth rate in the overall market between 2015 and 2020. The increased need for high-quality magnetic materials used in processing automotive bodies and use of advanced technologies boost the market.

The magnetic materials market is classified on the basis of type into semi-hard magnet, soft magnet, and hard/permanent magnet. The market is dominated by semi-hard magnet owing to global demand for technological systems & devices providing innovative products. Some of the related products are antitheft articles, electronic systems, automotive devices, and smart electronic bank cards. Semi-hard magnet is estimated to register high growth during the forecast period.

The industry is highly fragmented in terms of segments to which the products are offered, which increases the market competition for small players. Moreover, the players are focusing on developing innovative products to meet the growing demand from end-use industries.

Currently, Asia-Pacific is the largest and fastest-growing market for magnetic materials owing to high demand from major markets, such as China, India, and Japan. The growing automotive industry in the region is also driving the market for magnetic materials.

Automotive, electronics, and Industrial applications to drive the growth of magnetic materials market

Automotive

Magnetic materials have vast applications in the automobile industry. The automobile contains magnetic materials in various parts such as motors, sensors, actuators, and switches. The concerns regarding the fuel economy of vehicles lead the manufacturers to reduce vehicle weight and to increase the combustion efficiency. This has resulted in an elevated use of magnetic materials in automobiles. Magnetic materials are increasingly used in electric motors for various functions such as electric steering, electric braking, electric throttle actuation, auto-clutch, and gearbox actuation.

Electronics

A computer, its peripheral devices, and electronics are the traditional application markets for magnetic materials. Magnetic materials are used in magnetic heads of hard disk drives (HDD), CD, as well as in motors of peripheral devices such as printer, fax machines, scanners, and photocopies. The increasing usage of cloud computing and related development resulted in the growing demand for data centers to store enormous data volumes involved. The mounting demand from data centers for HDD pushes the demand for magnetic materials. Consumer electronics such as air conditioner, washing machines, dryers, and lawn motors use magnetic materials to enhance the efficiency of appliances.

Industrial

The increasing automation in various industries leads to the growth of magnetic materials. The magnetic materials are used in various magnetic assemblies such as metal detectors, magnetic material handling equipment, conveyor belts, and separation equipment. These magnetic assemblies are an essential part of various processing industries such as chemical, food, and ceramic. Industrialization is the back bone of the economic development of any economy. Several developing countries such as China, India, and Brazil are focusing on accelerating industrialization for the economic development of their country. This rapid industrialization drives the demand for advanced magnetic materials.

Critical questions the report answers:

Where will all these developments take the industry in the mid to long term?

What are the upcoming applicartions of magnetic materials?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

The major factor restraining growth of the magnetic materials market is volatile raw materials prices in North America and Western Europe. However, Asian countries such as, China and Japan have increased the production and utilization of magnetic materials.

Some of the important magnetic materials companies are Hitachi Metals Ltd. (Japan), Daido Steel Co. Ltd. (Japan), Molycorp Magnequench (Canada), Shin-Etsu Chemical Co. Ltd. (Japan), and TDK Corp. (Japan). The players in this market need to compete with each other with respect to prices and offering wide product range to meet the market requirements.